The Global Market for Pain Management Drugs and Devices
- The global market for pain management pharmaceuticals and devices amounted to $19.1 billion in 2008 and is expected to increase to $32.8 billion in 2013. The compound annual growth rate (CAGR) for the 5-year period is projected at 11.5%.
- The pharmaceuticals segment dominated the market at $17.6 billion in 2008. That figure is expected to increase to $30.2 billion in 2013, for a CAGR of 11.5%.
- The devices segment of the market generated $1.48 billion in sales in 2008 and is projected to increase to $2.5 billion in 2013, for a CAGR of 11.4%.
- Undertreatment issues
- Professional issues
- Managed care pain issues
- Trends in new therapies and product pipelines
- Generic participation
- Pain research
- Drug delivery
- Patent expirations
- Developments in breakthrough pain
- New regulatory requirements
- Demographic trends
- Incidence and prevalence trends
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The global pain-management market is worth around $30.9 billion in 2007. It is forecasted to grow at a compound annual growth rate (CAGR) of 5.63% to reach $40.6 billion by the end of the forecast period, 2012.
The pharmaceuticals segment of the pain-management market is valued at $29 billion in 2007. It will be worth $38 billion by 2012 at a CAGR of 5.6%.
In 2007, market revenue from the medical devices segment is around $1.9 billion. This segment is predicted to grow at a CAGR of 6.5% to reach $2.6 billion by the end of 2012.
This report presents the forecast of the market for pain management through the year 2005. By 2005, it is anticipated that revenues will likely reach $32 billion, growing at an average annual rate of almost 12%.
Pain management pharmaceuticals currently hold the largest market revenue position, representing 97% and accounting for $16 billion of the total in 1999. Pharmaceuticals have long been the mainstay of pain management and it is anticipated that they will remain the largest market share throughout the forecast period.
Pain management devices account for 3%, representing $418.5 million in 1999. It is anticipated that the device segment will gain market revenue position due to technological advancements and a gradually declining cost increasing demand for current technologies